BTI - British American Tobacco p.l.c. - Close Period Share Repurchase
BTI
BTI
BTI - British American Tobacco p.l.c. - Close Period Share Repurchase
Programme
British American Tobacco p.l.c.
Incorporated in England and Wales
(Registration number: 03407696)
Short name: BATS
Share code: BTI
ISIN number: GB0002875804
("British American Tobacco p.l.c." or "the Company")
Close Period Share Repurchase Programme
British American Tobacco p.l.c. (the "Company") announces that it will
commence an irrevocable, non-discretionary programme to purchase shares on
its own behalf during the period commencing on 4 April 2012 up to and
including 25 April 2012, therefore running through its close period which
commences on 2 April 2012 and ends on 25 April 2012. The shares
repurchased will be put into treasury, rather than being cancelled. Whilst
the shares are held in treasury, no dividends will be paid on them and they
will have no voting rights.
The buy-back programme will be managed by an independent third party, which
makes its trading decisions in relation to the Company`s securities
independently of, and uninfluenced by, the Company.
Any acquisitions will be effected within certain pre-set parameters, and in
accordance with both the Company`s general authority to repurchase shares
and Chapter 12 of the Listing Rules which requires that the maximum price
is an amount equal to 105 per cent of the average market value of the
Company`s shares for the five business days immediately preceding the date
on which the Company`s shares are purchased.
The Company confirms that it currently has no unpublished price sensitive
information.
Name of the duly authorised officer of the issuer responsible for making
notification:
G C W Cunnington
Deputy Secretary
2 April 2012
Sponsor: UBS South Africa (Pty) Ltd
Date: 02/04/2012 08:00:05 Produced by the JSE SENS Department.
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